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AmTrust Bets on New York Office with $66M Acquisition

The building occupancy is currently 60 percent.

By Anthony Russo | November 26, 2024 at 04:08 PM

AmTrust RE is placing a bet on New York’s strong recovering office sector with a new $65.5 million acquisition of a Midtown East, Manhattan building.

The 268,000-square-foot property, called 360 Lexington Avenue, was first built in 1959 and has undergone renovation over the past few years. Some of the upgrades included the elevators and the lobby. Also, the property management company plans to build off that by enhancing the building’s exterior facade, which AmTrust said will boost energy efficiency and insulation. Additionally, the New York-based firm wants to incorporate amenity spaces, which include lounges and conference rooms.

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